Chapter 11 · Subchapter V · Chapter 7 trustees
Get a cash offer for your company's data before the next court date.
AI developers pay for de-identified records of how real businesses run: email, chat, documents, CRM and ERP history. We get competing offers, package the winning bid for a Section 363 motion, and the money goes to the estate. Up to $50K to $1M+, illustrative and never promised.
- No upfront cost
- Built for court approval
- De-identified
- Confidential
Deadline soon? Fast-track formCounsel or trustee? Refer a client
Confidential valuation
Step 1 of 2Not your company to sell? Refer it insteadWe'll send them a short intro that mentions you.
Live estimate
IllustrativeHow it works in a case
Five steps from a confidential call to a court-approved closing
You keep running the company and your counsel keeps running the case. We handle valuation, de-identification, buyer outreach, offers and the factual record the motion needs.
- i.
Confidential valuation
Share the case basics and the systems you run. We tell you what's saleable, which contracts and privacy rules limit it, and an illustrative range.
- ii.
Scope & de-identify
We scope the dataset with management and counsel, exclude restricted material, and de-identify before any buyer sees more than a redacted sample.
- iii.
Competitive bids
We take a packaged description to multiple AI developers. The best bid can serve as a stalking horse or be presented for approval with a market check.
- iv.
Motion & approval
Your counsel files the sale or license motion. We supply the declaration support, bid summary, data description and privacy analysis the court and parties expect.
- v.
Close & fund the estate
After the order is entered, the data is delivered and the buyer pays. Proceeds go to the estate and are handled as the DIP and cash-collateral orders require.
Bid summary · Example
Exhibit: summary of bids received
- Seller
- Debtor (the estate)
- Asset
- De-identified operational records, 6 yrs
- Scope
- Slack · Docs · CRM
- Privacy
- De-identified before delivery
- Approval
- Sale order under § 363(b)
Bids received
Everyone at the table
No surprises for the people who can object
A data sale in bankruptcy only works if the people who can object are satisfied before the hearing. We plan for each of them from day one. How court approval works
The bankruptcy court
A sale or license outside the ordinary course needs notice and a hearing under Section 363(b). We build the record that supports a sound-business-judgment finding: marketing, competing bids, and a fair price.
The U.S. Trustee
The U.S. Trustee monitors the case, reviews retention of professionals, and appoints a consumer privacy ombudsman when one is required. We expect their questions and answer them in the papers.
The DIP lender
DIP and pre-petition lenders often hold liens on general intangibles, including data and its proceeds. We coordinate early so the transaction fits the DIP budget and cash-collateral order.
The creditors' committee
In larger Chapter 11 cases the official committee will scrutinize any asset sale. A transparent process with multiple bidders is what persuades them it maximizes value.
A trustee
Chapter 7 trustees, Subchapter V trustees and Chapter 11 trustees can monetize data assets like any other estate property. We work at the trustee's direction and on terms they control.
The consumer privacy ombudsman
If your privacy policy restricts transferring customer personal information, Section 363(b)(1) generally requires consistency with the policy or an ombudsman and a court finding. De-identified operational data often avoids the issue, but we analyze it either way.
Typical timeline
From first call to funds in the estate
An illustrative path for a straightforward 363 sale or license. Every case differs: deadlines, objections, ombudsman appointments and the court's calendar all move it. We never promise a closing date.
| When | Step | What happens |
|---|---|---|
| Week 0–1 | Valuation & scoping | Confidential intake, data inventory, contract and privacy screen, illustrative range. |
| Week 1–3 | De-identify & market | Redacted samples, buyer outreach, bids. Stalking-horse terms if useful. |
| Week 2–4 | Motion filed | Debtor's counsel files the 363 motion with our declaration support; ombudsman request if needed. |
| Week 4–7 | Notice & hearing | Generally at least 21 days' notice to creditors under Rule 2002(a)(2), unless the court shortens it. |
| Week 5–8 | Order, delivery, payment | Rule 6004(h) stays the order 14 days unless the court orders otherwise. Then delivery and funds to the estate. |
Up against a bar date, DIP milestone or conversion hearing? Mark your request urgent and we'll respond within one business day.
Fast-track requestWho this is for
Four situations where data turns into cash
The rules are different in each, and so is the clock. Pick yours for the specifics.
Chapter 11 debtors
Add a non-core asset sale to the DIP budget without selling the business.
How it works →ForSubchapter V small businesses
Fund a 3–5 year plan with cash from an asset you didn't know you had.
How it works →ForChapter 7 trustees
Liquidate intangible data assets for the estate with a clean, documented process.
How it works →ForDistressed & pre-filing
Raise cash before a filing, or plan the data sale into the first-day strategy.
How it works →Where the money goes
The money follows the court's orders, and that's the point
Proceeds from estate property belong to the estate. That's what makes the sale approvable, and it's why creditors tend to support it.
- Paid to the estateThe buyer pays the debtor's estate (or the trustee), not management or shareholders.
- Liens attach to proceedsIf a lender has a lien on general intangibles, it typically attaches to the sale proceeds, with priority and use governed by the court's orders.
- Cash collateral rules applyUsing encumbered proceeds generally requires lender consent or court authorization under Section 363(c)(2) and the existing orders.
- Fees are disclosedAny fee to us is paid only from a closed transaction, disclosed in the sale papers, and subject to court approval where required.
What the labs actually see
They want the workflow, not the people. The workflow stays. The identities don't.
Here's what surprises most owners: labs don't care who said what. They care that a quote went from request to approval in two messages, and why. Names, emails, phone numbers, addresses, account numbers and customer names are removed or replaced before delivery. You approve the exact scope in writing.
Maria Chen9:14 AM
@Tom Alvarez can you approve the revised quote for Brightline Foods? They need it by Thursday.
Tom Alvarez9:21 AM
Approved. Send it from tom@hartwell-logistics.com and copy the account manager.
PERSON_309:14
@PERSON_7 can you approve the revised quote for CUSTOMER_22? They need it by Thursday.
PERSON_709:21
Approved. Send it from and copy the account manager.
Removed or replaced
- Names
- Emails
- Phone numbers
- Addresses
- Account numbers
- Customer names
- Excluded channels & folders
For debtor's counsel, trustees & advisors
Counsel gets a filing-ready starting point
We prepare a template packet for debtor's counsel: a data-asset description, a marketing and bid summary, de-identification and privacy analysis, a form of declaration in support, and a proposed-order checklist. Your counsel decides what to file.
Value estimator
Get a rough sense of what you're sitting on.
Move the sliders and pick your systems. This is a simple illustrative heuristic, not an offer. It's meant to answer one question: is this worth a conversation? Real numbers come only from labs competing for your dataset.
- More systemsChat, docs and email together show a fuller picture of work.
- More historySeveral years show how processes change over time.
- Unique workflowsWell-documented, specialized work matters more than raw size.
We're focused on 20+ employees, but specialized datasets are considered case by case.
Illustrative only. This is a rough heuristic, not an offer, quote or guarantee. Real offers depend on lab demand, data quality and uniqueness, de-identification scope, and terms.
Guides
Read before the hearing
363 motion to sell data: a checklist for debtor's counsel
A practical checklist for debtor's counsel drafting a Section 363 motion, declaration and proposed order for the sale or license of company data.
Read guide · 5 minHow to sell business data in bankruptcy: a step-by-step overview
From inventory to sale order: the eight steps to turn a debtor's operational data into cash for the estate, and the mistakes that cost time and money.
Read guide · 5 min
Subchapter V cash: can a small business sell its data to fund a plan?
For small business owners in Subchapter V: whether your records are worth anything, what the trustee and court need, and how a data license fits a 3-5 year plan.
Read guide · 5 minCan a company in Chapter 11 sell or license its data?
Generally yes. Data the debtor owns is property of the estate under Section 541. A debtor in possession can use or sell estate property in the ordinary course, but a sale or license outside the ordinary course, which a data transaction usually is, requires notice and a hearing under Section 363(b). In practice your counsel files a motion and the court approves the transaction if it reflects sound business judgment and a fair process.
How much could it bring in?
For US companies with real operating history, our illustrative range is up to $50K to $1M+. The amount depends on the systems included, years of history, how specialized the work is, how much must be excluded for contract or privacy reasons, and buyer demand at the time. We never promise a price; the number comes from competing bids and the court's approval.
Who buys it, and why?
AI developers that train and evaluate models on realistic business work. They want the record of how work gets done (workflows, decisions, handoffs), not the identities of the people involved, which is why everything is de-identified before delivery. We don't name buyers publicly; you and, where required, the court will know the buyer before anything closes.
What about customer personal information and the consumer privacy ombudsman?
Section 363(b)(1) restricts selling personally identifiable information about individuals if the debtor's privacy policy prohibited transferring it. In that case the sale generally must be consistent with the policy, or the court must appoint a consumer privacy ombudsman under Section 332 and find the sale appropriate. Most of what AI developers want is operational and can be de-identified or excluded, but we analyze the privacy policy and data map with your counsel either way.
Does the DIP lender have to agree?
Usually the DIP or pre-petition lender's consent matters in practice. Lenders often hold liens on general intangibles, and liens typically attach to sale proceeds. Use of those proceeds is governed by the DIP and cash-collateral orders. We coordinate with the lender early so the deal fits the budget and milestones instead of becoming a fight at the hearing.
How fast can this happen?
A straightforward data sale can sometimes be marketed in two to three weeks and heard on regular notice, which is generally 21 days under Bankruptcy Rule 2002. Objections, an ombudsman appointment, or a busy docket can extend that. We give you a realistic timeline after intake and never promise a closing date or a ruling.
What does it cost the estate?
No upfront cost and no retainer. Any fee is paid only from a closed transaction, disclosed in the sale papers, and subject to court approval where required, including any retention application your counsel decides is needed.
Your next hearing is on the calendar. Your data's value isn't. Let's fix that.
Free, confidential and fast: a read on what your data could bring, what has to stay out, and what the court will need to see. You and, where required, the court approve before anything is shared.